Securian Asset Management Inc Sells 300 Shares of Olin Co. (NYSE:OLN)

Securian Asset Management Inc trimmed its stake in shares of Olin Co. (NYSE:OLN) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,168 shares of the specialty chemicals company’s stock after selling 300 shares during the quarter. Securian Asset Management Inc’s holdings in Olin were worth $609,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in OLN. Principal Financial Group Inc. boosted its position in shares of Olin by 15.3% in the first quarter. Principal Financial Group Inc. now owns 570,055 shares of the specialty chemicals company’s stock valued at $21,645,000 after acquiring an additional 75,635 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Olin in the first quarter valued at about $7,313,000. Prudential Financial Inc. boosted its position in shares of Olin by 171.6% in the first quarter. Prudential Financial Inc. now owns 54,589 shares of the specialty chemicals company’s stock valued at $2,073,000 after acquiring an additional 34,490 shares during the period. Swiss National Bank boosted its position in shares of Olin by 1.1% in the first quarter. Swiss National Bank now owns 360,732 shares of the specialty chemicals company’s stock valued at $13,697,000 after acquiring an additional 3,800 shares during the period. Finally, Algert Global LLC boosted its position in shares of Olin by 37.8% in the first quarter. Algert Global LLC now owns 21,807 shares of the specialty chemicals company’s stock valued at $828,000 after acquiring an additional 5,987 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

In related news, COO James A. Varilek sold 34,728 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $51.22, for a total value of $1,778,768.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott D. Ferguson sold 3,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $49.45, for a total value of $148,350,000.00. The disclosure for this sale can be found here. Corporate insiders own 11.90% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Olin from $55.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, June 14th. Bank of America raised Olin from a “neutral” rating to a “buy” rating and boosted their price target for the company from $49.00 to $58.00 in a research note on Friday, July 16th. Royal Bank of Canada boosted their price target on Olin from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Zacks Investment Research downgraded Olin from a “strong-buy” rating to a “hold” rating and set a $45.00 price target for the company. in a research note on Wednesday, July 21st. Finally, Wolfe Research began coverage on Olin in a research note on Wednesday, June 9th. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $56.47.

Shares of NYSE OLN opened at $48.49 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.10 and a debt-to-equity ratio of 1.63. The company has a market cap of $7.78 billion, a price-to-earnings ratio of -40.41, a PEG ratio of 0.13 and a beta of 1.37. Olin Co. has a 12 month low of $11.51 and a 12 month high of $52.01. The stock has a 50-day moving average price of $46.60 and a two-hundred day moving average price of $44.02.

Olin (NYSE:OLN) last issued its earnings results on Monday, July 26th. The specialty chemicals company reported $2.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.77. Olin had a positive return on equity of 28.77% and a negative net margin of 2.36%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. The business’s quarterly revenue was up 79.0% on a year-over-year basis. On average, sell-side analysts predict that Olin Co. will post 7.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Monday, August 9th. Olin’s dividend payout ratio is currently -59.26%.

About Olin

Olin Corp. engages in manufacturing of chemicals products. It operates through the following segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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